Azerbaijan cuts oil production by nearly 7%

In January 2023, 0.7 million tons of oil produced in Azerbaijan fell to the share of the State Oil Company of Azerbaijan (SOCAR), Report informs, citing the Energy Ministry.

In January of this year, 2.7 million tons of oil (including condensate) were produced in Azerbaijan. This is 0.2 million tons or 6.9% less than in the same month of 2022.

Of this, 1.6 million tons (down 0.2 million tons or 11.1%) were extracted from the Azeri-Chirag-Guneshli block of fields, 0.4 million tons of condensate (remained same) from Shah Deniz.

During January of this year, 2.1 million tons of oil (including condensate) were exported from Azerbaijan, 0.2 million tons or 8.7% less than the indicator of the first month of last year.

Azerbaijan International Operating Company (AIOC) accounted for about 2 million tons of it, which is 0.2 million tons or 9.1% less compared to 2022.

Some 134,000 tons of volumes transported for export belong to SOCAR, 54,200 tons or 67,9% more than the last year.